Flash content may be a tough sell at this point - it has its share of security issues, and is largely on its way out from the modern Web. I'd suggest that we search for alternatives or produce them ourselves where none exist. If you have any specific examples of content you'd want to see included, please let me know and I'll investigate.
As for the video embeds - yeah, it is MediaWiki and we'll almost certainly be using one of the extensions already available. I'd like to sit down with Parsifal and update MediaWiki to its newest version before introducing any other changes, but hopefully we'll be able to get this sorted within this week.